CORONAVIRUS – Twitter founder and boss Jack Dorsey announced on Tuesday April 7 that he is donating $ 1 billion in shares from his other company, Square, to help fight the coronavirus epidemic.
In a message posted on the social network, he explains that the sum represents 28% of his fortune. “When we defuse this pandemic, the funds will go to girls’ health and education, as well as universal income,” he said.
I’m moving $ 1B of my Square equity (~ 28% of my wealth) to #startsmall LLC to fund global COVID-19 relief. After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI. It will operate transparently, all flows tracked here: https://t.co/hVkUczDQmz
– jack (@jack) April 7, 2020
In a series of tweets he explains that to reach this amount he will gradually sell shares in his other company, Square, specializing in digital payment.
Jack Dorsey, whose fortune is estimated at $ 3.3 billion per Forbes, sees girls’ education and universal income as potential solutions to “the problems the world faces”.
Universal income is generating renewed interest from many politicians and business people, as the economic crisis linked to the Covid-19 has put millions of people out of work.
“This is a great idea that needs to be tested,” he continues. The funds will be allocated via its Start Small foundation, transparently. A spreadsheet he shared online indicates a first grant of $ 100,000 for the “American food fund.”
“It is important (that it is transparent) so that others and I can learn from it,” said the man who donated a third of his Twitter actions to his employees in 2016.
“Why now? Because the needs are urgent and I want to see the effects during my life, ”says Jack Dorsey. “I hope this will inspire others. Life is too short, so let’s do everything we can to help people now. ”
Jeff Bezos, the boss of Amazon and the richest man in the world, announced on Instagram five days ago that he was donating $ 100 million to American food banks. Mark Zuckerberg, the founder of Facebook, and his wife Priscilla Chan donated $ 25 million for research into treatments for the coronavirus.
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